Bally’s Corporation Chairman Soo Kim addressed shareholders and investors of the operator’s Chicago casino resort project to provide an update on the construction timeline and call out “misperceptions in the media” over work stoppages at the site.
On August 10, it was reported Bally's suspended construction on much of the non-gaming portion of its permanent Chicago casino development as a dispute with city officials over video gaming terminal (VGTs) legalization threatened to reshape the project's timeline.
Bally's issued a "reset notice" to the Chicago Community Builders Collective, temporarily halting work on planned amenities including the hotel, entertainment venue and several restaurants at the River West development.
However, Kim confirmed the operator still anticipates debuting its new Chicago casino resort in early 2027, and described the property as a “gamechanger” for the city.
The Bally’s Chairman cited “inaccurate reports” regarding whether construction was paused due to disagreements over VGT legalization, and invited those who have invested in the new Chicago property to take part in a guided tour of the current development.
Despite Kim’s September 14 claims, a group of Chicago alderpersons urged Bally’s to fully resume construction of its permanent casino resort on August 13, arguing the operator remains obligated to deliver on its agreement with the city.
Over two dozen City Council members said Chicago approved a wider entertainment development rather than a standalone casino and warned that delaying non-gaming components may affect union employment, economic activity and promised public benefits.
The alderpersons also called for a public hearing to question Bally’s and the city administration about the slowdown, project financing and enforcement of the Host Community Agreement.
It remains unclear whether the call hosted by Bally’s on September 14 served as a means to address the public hearing notice, or if additional meetings will be held to provide construction updates.
Prior to the call, Bally's secured new financing totaling $560m to support the development of its planned casino and resort in the Bronx, New York.
The financing comprises $400m in closing-date term loan commitments and $160m in delayed draw term loan commitments, led by private credit investment manager WhiteHawk Capital Partners.
Bally's completed the acquisition of Sam's Town Shreveport from Boyd Gaming on August 3, adding another property to its regional gaming portfolio and expanding its Louisiana market presence
